Inflation may be contained by March : Congress

New Delhi, Feb 9 (UNI) The Congress Party today expressed serious concern over the rising prices of essential commodities, but said the inflationary trend was the direct impact of booming economy and things would improve by mid-March.

''The challenge is to maintain the boom and growth and regulate inflation,'' AICC spokesman Abishek Manu Singhvi told mediapersons, while indicating that the forthcoming General Budget for 2007-08 would have measures that would help to contain inflation by the middle of March.

''Inflation is a fluctuating phenomenon. Please wait for the budget,'' he said.

Dr Singhvi said the government had been taking strong and conscious measures to rein in on the prices of commodities. ''The totality of these efforts would have an impact.'' Meanwhile, Party sources said the government would make intervention by legislation if prices could not be contained by March this year.

''You cannot afford to have vegetable prices rising,'' sources said, while referring to the hike in the prices of onion and tomatoes.

UNI